Marla Skiko, US & Global Head of Media at Ford Motor Company, and Silvia Sparry, Global COO, Xaxis, explore what it means to take an outcome-based approach to marketing programs and media investments.
Consumer privacy is limiting access to third party insights. Previously untapped first party data sources are being fed into the marketing engine to fill the gap. As marketers’ toolsets are re-shaped by the deprecation of third party cookies the new focus is on extracting maximum value out of the data and insights you do have and tapping into new ones.
Gather intelligence. Solidify your data strategy. Test and iterate.
Virtually every business process is instrumented. Tap the data.
- Take a fresh, creative look at your business ecosystem and identify first party data streams that were previously untapped by marketing, and look across departments to share the data.
- Get your own data flowing through your pipes and into your MarTech stack.
- Recognize that you will have many first, second, and third party sources. Bring deliberate focus to data orchestration and how those inputs come together.
It’s about having strategies in place that make the most of the data we do have. The landscape is shifting but that doesn’t mean we can’t use data in new ways to drive outcomes that matter.
– Marla Skiko
Building the plane while we fly it.
- How you plan, optimize, measure, and report is all changing. The first priority is rooting in the business outcomes, and calibrating against those.
- The next-gen solutions technology providers are building are still in alpha and beta which means that this is a great time to influence vendor technology plans.
- Test and scale what vendors are building to input back into the future of our future marketing stack.
This is an awesome opportunity to rebuild the industry on a foundation that is not just more privacy-centric but also more accurate from a measurement perspective.
– Silvia Sparry
The “hype” in hyper personalization.
- Cookies were always flawed and never covered the entire ecosystem. Syncing cookies from one data source to another was chaotic. While it was sold as a common currency, it is a flawed way of measurement.
- Many identity-based optimization methodologies underperformed. “Old school” strategies – relationships with publishers, access to top quality inventory, and more – have been and should always be part of the mix.
We over-relied on this concept of hyper personalization driven by third party cookies. It gave us this illusion that this would give us the secret to optimization. But it really wasn’t ever that.
– Silvia Sparry
Bringing it back to the outcomes.
- Use the business outcomes as the compass to navigate in this highly fluid environment.
- The new world requires a matrixed model with both internal and external partners.
- There will be new ways to think about identity in privacy-safe ways.
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